Wednesday, May 18, 2011
NJ Tax Revenue Advance Demands Steady Restraint
New Jersey State Senate Republican Budget Officer Anthony Bucco (R-Morris) expressed the need for continued fiscal restraint today after the non-partisan Office of Legislative Services testified that New Jersey tax revenues are $430 million above expectations for the current fiscal year and $913 million more than expected through June 2012. "The positive revenue projections announced today are a vindication that the budget priorities pushed by the Governor and supported by my Republican colleagues over the past year were the correct choices," Bucco stated. "We must remain vigilant and not allow this uptick in revenue to be squandered away and used as an excuse to spend more and grow government." Bucco stressed that there are still too many residents looking for a job and small businesses struggling to stay open and that more work needs to be done to enhance New Jersey's economy and create jobs. "We passed a balanced budget last year without raising taxes and it worked," Bucco continued. "New Jersey is finally beginning to see signs of an economic recovery but we need to remain disciplined to make sure it continues."